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BEIJING, June 10 (Xinhua) -- The People's Bank of China (PBOC), the central bank, injected 166 billion yuan (24.3 billion U.S. dollars) into the money market this week, easing tight money supply conditions with bill issuance and repurchase agreements.In its regular open market operations Thursday, the central bank auctioned 10 billion yuan (1.46 billion U.S. dollars) of three-month bills at a yield of 1.5704 percent, up 4.04 basis points from June 3.On Thursday, the central bank also conducted repurchase agreement operations -- the first time in almost a month -- by absorbing 10 billion yuan through 91-day repurchase agreements. The yield on Thursday's 91-day repurchase agreement rose to 1.57 percent, up 16 basis points from its previous repurchase operation.Thursday's operations together with Tuesday's 25 billion yuan worth of one-year bill issuance brought the weekly total raised to 45 billion yuan (6.6 billion U.S. dollars). But 211 billion yuan (30.9 billion U.S. dollars) of bills matured this week, meaning a net weekly injection of cash.The central bank's net injection this week was the third straight week of net injection. It pumped 159 billion yuan (23.3 billion U.S. dollars) into the market in the previous two weeks.Since mid-May, China's banks have faced a short-term money squeeze as the PBOC introduced a series of tightening measures to cool the booming property sector.Zhao Qingming, a senior research fellow at China Construction Bank, the country's second largest lender, said the yield changes on central bank bills reflects tight money supply in the short-term.Rising bill yields usually reflect lenders' reduced demand for safety or their cash hoarding.For the whole week, yields on central-bank short-term debt instruments rose compared to the previous week.The yield on one-year bills jumped 8.32 basis points to 2.0929 percent while the yield on three-month bills climbed 4.04 basis points to 1.5704 percent. The yield on 91-day repurchase agreements added 16 basis points to hit 1.57 percent.
BEIJING, June 18 (Xinhua) -- China has become the world's third largest stock market as total market value of the Shanghai and Shenzhen markets hit 20.96 trillion yuan (3.07 trillion U.S. dollars) as of the end of May, the country's securities regulator said Friday.The total market value so far was up 393.76 percent compared to the 2003 level, the China Securities Regulatory Commission said.

BEIJING, July 12 (Xinhua) -- The Long March and its legacy had contributed to shaping an extraordinary China, said former U.S. national security adviser Zbigniew Brzezinski, when he called upon the headquarter of China's Central Military Commission (CMC) in Beijing on Monday.His meeting with senior Chinese military leader Xu Caihou started with the memory of the Long March which set Brzezinski in mind of his trip to retrace the Long March in 1981."I learned you had retraced China' s Long March with your family before and your wife is a well-known sculptor," said Xu, who showed Brzezinski around the meeting hall where a set of stone carvings were placed portraying the Chinese Red Army and their epic Long March from 1934 to 1936."Currently China's modern construction and its reform cause are another new Long March, and to stick to a peaceful development road is China's long-term and strategic choice," said Xu, CMC Vice Chairman.Brzezinski, who served under former U.S. President Jimmy Carter from 1977 to 1981, had retraced part of the route of the Long March with his family when visiting China in July of 1981.After that China tour, he wrote an article for the Life Magazine titled "An American Family Retraces Mao's Long March", in which he said "For the emerging new China, the Long March is more than an epic of almost unmatched heroism. It is the reminder of the spirit of national unity essential to overcome the legacy of backwardness."Looking around each of the stone carving with great interest, Brzezinski said the "incredible" and "superb" works had reminded him of his China visits over the years, in particular, the trip to review the Long March.These experience helped me to better understand China and some of its historical events, said the 82-year-old strategist.The Long March was a famous military maneuver carried out by the Chinese Red Army led by the Communist Party of China (CPC) to combat the Kuomintang Regime.Though many soldiers died on the way of the two-year ordeal, the Red Army finally arrived at Yan'an in western Shaanxi Province after the 25,000-li (12,500-kilometer) trek, where the new headquarters of CPC was later established.Brzezinski said all these historical events had helped to shape an extraordinary China.In his two-hour-long meeting with Xu, Brzezinski stressed the United States and China should have all-round strategic dialogues and strengthen coordination and contact, and work for the peace and stability of the world.Xu agreed the two sides should properly handle bilateral relations and international issues to their mutual benefit instead of as a zero-sum game."More than 30 years of China-U.S. relations have proved the two countries can co-exist peacefully and enjoy common development. China's development will expand cooperation between the two countries," Xu added.Brzezinski is visiting China at the invitation of the Chinese International Institute for Strategic Society.
CANBERRA, June 21 (Xinhua) -- Visiting Chinese Vice President Xi Jinping and Australian Prime Minister Kevin Rudd hailed here on Monday the relationship between China and Australia, calling for more measures to boost bilateral ties.During the talks between the two leaders in the Parliament House in Canberra, Xi said the bilateral comprehensive cooperative relationship has set "an example" for countries with different political systems, cultural traditions and development stages to seek harmonious relationship and common development.The vice president said the economic complementarity and comprehensive trade and economic cooperation between China and Australia has become an inner impetus driving the advancement of the China-Australia relations at large." hspace="0" src="/d/file/p/2010/06/ec034940ce384971bd7a9d7d0aebf84d.jpg" border="0" />Visiting Chinese Vice President Xi Jinping (R) holds talks with Australian Prime Minister Kevin Rudd in Canberra, capital of Australia, June 21, 2010. He cited that the trade volume between China and Australia still kept growth last year despite worldwide financial crisis.The two-way investment and the expansion of cooperation fields signals that the China-Australia trade and economic cooperation is moving towards a comprehensive, multi-levelled and diversified approach, he said."This is a good blessing for both Chinese and Australian peoples, and it is also a vital element to promoting the balanced development of world economy and sustainable development," Xi said.
BEIJING, Aug. 6 (Xinhua) - China's Ministry of Agriculture Friday urged local authorities in flood-hit regions to step up efforts to resume agricultural production and create favorable conditions for the autumn harvest following this summer's severe floods.Local departments were ordered to accelerate water drainage, restore damaged infrastructures, strengthen field management, and plant mung bean, potatoes and buckwheat, which have short growth periods, to make up for losses, according to an official from the ministry.The official also required departments to clear away and carry out bio-safety disposal of dead livestock, while increasing epidemic control measures.As of July 21, more than 7 million hectares of farmland in China had been destroyed by torrential rains and floods, according to data from the State Flood Control and Drought Relief Headquarters.
来源:资阳报